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Let me put this as bluntly as I can: despite the rumors, Seagate simply is not going to buy OCZ Technology Group, FORBES has confirmed.

In the latest outbreak of a rumor that seems to pop back up every few weeks, the tech news site The Register ran a story today that said an acquisition of OCZ by Seagate fell through over a dispute over whether recently departed OCZ CEO Ryan Petersen would get a seat on the Seagate board. The story adds that this situation, along with a NAND chip shortage at OCZ, led to Petersen's resignation.

OCZ shares have rallied sharply on the rumor, which carries with it the unstated notion that maybe Seagate might try again.

At one level, the report is ridiculous; any CEO who would turn down an acquisition bid over the issue of whether they might get a board seat at the acquiring company DESERVED to be fired for breach of fiduciary responsibility. But that question is really besides the point.

The more important point is this: A highly reliable source close to Seagate tells Forbes bluntly that Seagate is not going to buy OCZ.